Spot rubber zooms to new record

Spot rubber zooms to new record

Kottayam, July 8

Spot rubber prices turned better on Thursday, rising to a new high. In spot, the prices firmed up following the gains on NMCE and TOCOM. Sheet rubber improved to Rs 183.50 from Rs 182 a kg on fresh buying and short covering. There were rumours that the grade will hit Rs 200 within a few weeks.

Futures gain

The July series moved up to Rs 186.50 (185.27), August to Rs 178.60 (178.26), September to Rs 171.69 (169.91) and October to Rs 165 (163.45) a kg for RSS 4 on the National Multi Commodity Exchange. On the Tokyo Commodity Exchange, the July futures improved to ¥356\Rs 189.07 (¥350.8), August to ¥319.9 (¥313.6), September to ¥308.9 (¥301.6), October to ¥291.4 (¥282.4), November to ¥281.1 (¥273.8) and December to ¥276.3 (¥270.1) a kg for RSS 3 during the day session. RSS 3 (spot) firmed up to Rs 164 (162.80) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 183.50 (182); RSS-5: 179 (177.50); ungraded: 175 (175); ISNR 20: 161 (159.50) and latex 60 per cent: 128 (127).